Hancock Lumber Co. is on an expansion spree.
The Casco-centered corporation introduced Tuesday that its plans to obtain Winnipesaukee Lumber Co. Inc., a building products provider in Wolfeboro, N.H.
Phrases of the deal were not disclosed.
The information will come immediately after Hancock explained in April that it would buy Lapointe Lumber, a provider with internet sites in Augusta and Gardiner.
In 2020, Hancock built a new lumberyard and kitchen area style showroom in Saco, the company’s 15th location in Maine.
Offer predicted to close this tumble
Hancock and Winnipesaukee have set a tentative closing date of Nov. 1, according to a news release.
The two companies mentioned they are a superior suit and will function alongside one another in the coming months to make sure a sleek transition for their personnel and shoppers. Both providers are spouse and children organizations targeted on contractor product sales, higher-top quality items and personalised services.
Recognized in 1848, Hancock Lumber is a seventh-technology, integrated forest merchandise firm with 600 staff. Winnipesaukee Lumber was founded in 1985.
“I’m personally thrilled to welcome Winnipesaukee Lumber into the Hancock Lumber relatives,” stated Kevin Hancock, Hancock Lumber’s CEO. “Dick and Dianne Quinby have produced an indelible contribution to the lumber marketplace in both New Hampshire and Maine considering that Dick began his profession in 1959. It’s an honor to create off their legacy.
“From the quite very first time Dick and Dianne welcomed me into their dwelling, I knew this was a little something we needed to make materialize. Our workforce could not be extra psyched about this acquisition for the very long-term profit of equally companies.”
Geographically, Winnipesaukee’s spot in Wolfeboro complements Hancock’s spots in North Conway, N.H., Bridgton and Kennebunk, all 3 of which are significantly less than 50 miles away. The offer would also allow Hancock Lumber to provide merchandise, services and shops from the heart of New Hampshire’s lakes and mountains.
“Any strategic prospect we entertain ought to be a cultural healthy to start with, and this partnership is no exception,” added Hancock’s president and CFO, Paul Wainman.
Hancock’s 11 lumberyards, 9 kitchen structure showrooms, 3 sawmills, truss and wall panel manufacturing facilities, and timberlands will present the Winnipesaukee workforce with extra manufacturing and distribution resources that can be extra to its existing merchandise and service offerings catering to its large-finish residential contractors and subcontractors.
“When the time arrived to retire, we resolved the future finest step was to sell our company,” mentioned Winnipesaukee’s co-proprietor, Dick Quinby. “From our to start with assembly jointly, we knew Hancock Lumber was the appropriate healthy — they are a community, loved ones-owned small business whose tradition and values are entirely aligned with ours and we could not be happier about this partnership for the long run.”
In new months, other lumber and creating source organizations in Maine have been rising via acquisition. They incorporate Belgrade-dependent Hammond Lumber, which very last drop obtained Tukey Bros. Inc., a close by sawmill, and Ware-Butler Inc., of Waterville, which in April announced plans to invest in 3 independent lumber vendors.